Malawi is coming from a background where we were once bailed out from unsustainable foreign debt via HIPC. Somehow, Malawi quickly went knee-deep in debt.
As of October 2012, Malawi’s debt was US$1.1 Billion. Reading the 2013/14 Budget Statement (paragraph number 8) and doing simple arithmetic, it appears that, by this time next year Malawi’s debt will be at around US1.2 billion.
The questions are:
- Can any country and any leader for that matter claim to be serious about development when they are digging a huge hole for the generations to come?
- How long can Malawi continue pursuing these suicidal policies.
On the attached PDF – there is a lot of food for thought.